As the economics of battery powered vehicles become more attractive, the Thai government recently finalized its new incentive scheme which they hope will encourage the global auto majors to base their electric vehicle production facilities in Thailand. Pushed personally by the Thai Prime Minister, General Prayuth Chan-ocha, the policy is a potential shot-in-the-arm for Thailand’s stagnant automotive manufacturing sector.
But will the policy work? Has the government placed its bets on the right technology to support? And even if it has, is the timing right?
This CLC Asia note takes a look into the development of this policy and some of the potential implications.